Eric Pauwels Sells 21,277 Shares of PTC Therapeutics (NASDAQ:PTCT) Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) insider Eric Pauwels sold 21,277 shares of the firm’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $75.00, for a total transaction of $1,595,775.00. Following the completion of the sale, the insider directly owned 73,411 shares of the company’s stock, valued at approximately $5,505,825. The trade was a 22.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

PTC Therapeutics Price Performance

Shares of NASDAQ PTCT opened at $75.14 on Friday. The company has a market cap of $6.23 billion, a P/E ratio of -32.25, a PEG ratio of 3.46 and a beta of 0.56. PTC Therapeutics, Inc. has a 1 year low of $43.17 and a 1 year high of $87.50. The firm has a 50-day simple moving average of $70.54 and a two-hundred day simple moving average of $72.17.

PTC Therapeutics (NASDAQ:PTCT) last announced its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.45) by $0.42. The business had revenue of $272.55 million during the quarter, compared to the consensus estimate of $217.42 million. PTC Therapeutics had a negative net margin of 22.58% and a negative return on equity of 362.45%. The firm’s quarterly revenue was up 43.5% compared to the same quarter last year. During the same quarter last year, the firm earned $10.04 earnings per share. As a group, equities research analysts expect that PTC Therapeutics, Inc. will post 0.78 EPS for the current year.

Hedge Funds Weigh In On PTC Therapeutics

Several institutional investors have recently bought and sold shares of the business. Thrivent Financial for Lutherans purchased a new position in PTC Therapeutics in the fourth quarter worth $4,191,000. Teachers Retirement System of The State of Kentucky grew its holdings in PTC Therapeutics by 86.9% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 40,858 shares of the biopharmaceutical company’s stock worth $3,103,000 after purchasing an additional 19,000 shares during the last quarter. Jefferies Financial Group Inc. purchased a new position in PTC Therapeutics in the third quarter worth $97,252,000. Ritholtz Wealth Management purchased a new position in PTC Therapeutics in the fourth quarter worth $1,863,000. Finally, Comerica Bank grew its holdings in PTC Therapeutics by 3,231.9% in the fourth quarter. Comerica Bank now owns 17,426 shares of the biopharmaceutical company’s stock worth $1,324,000 after purchasing an additional 16,903 shares during the last quarter.

Analysts Set New Price Targets

PTCT has been the topic of a number of research reports. Bank of America reduced their target price on shares of PTC Therapeutics from $97.00 to $93.00 and set a “buy” rating on the stock in a research report on Friday, February 20th. Royal Bank Of Canada raised their target price on shares of PTC Therapeutics from $81.00 to $82.00 and gave the stock a “sector perform” rating in a research report on Friday, May 8th. Raymond James Financial initiated coverage on shares of PTC Therapeutics in a research report on Friday, April 10th. They set an “outperform” rating and a $108.00 target price on the stock. Morgan Stanley reaffirmed an “overweight” rating and set a $94.00 target price on shares of PTC Therapeutics in a research report on Friday, May 8th. Finally, Jefferies Financial Group raised shares of PTC Therapeutics from a “hold” rating to a “buy” rating and raised their target price for the stock from $76.00 to $85.00 in a research report on Wednesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $91.36.

About PTC Therapeutics

PTC Therapeutics, Inc is a biopharmaceutical company focused on the discovery, development and commercialization of small molecule and biologic therapies for the treatment of rare genetic disorders. Since its founding in 1998, PTC has dedicated its efforts to addressing high unmet medical needs by targeting underlying genetic causes of disease. The company’s research platform emphasizes mechanisms such as nonsense suppression and RNA modulation, enabling the development of novel treatments for conditions with limited therapeutic options.

Among PTC’s approved products is Translarna (ataluren), a first-in-class therapy designed to treat nonsense mutation Duchenne muscular dystrophy in select markets.